The US Secretary of State Antony Blinken believes that India-US Collaboration in emerging technologies in areas like AI, telecom, semiconductors, defense and biotechnology can potentially alter the matrix of international trade in high-tech industrial products. Secretary of State Blinken made these remarks while addressing the annual India Ideas Summit of the US-India Business Council. The event took place ahead of the official state visit of the Indian Prime Minister, Narendra Modi.
The event took place on Monday, June 12, 2023. The prime Minister of the country will visit the United States, from June 21 to 24. Further, Talking about the event, Antony Blinken discussed the future strategic ties between the two countries. He also talked about the economic relationships at the heart of the Indo-US strategic partnership. The two nations are working to help shape innovations of the future and the norms governing them.
The economic relationship between the two nations is getting strengthened. During the USIBC, US Secretary of State, remarked that both these nations are making investments. President Biden has invested USD 1.2 trillion in the Bipartisan Infrastructure law project. Meanwhile Prime Minister Narendra Modi put Rs. 100 trillion in their infrastructure plan. Talking about this, Blinken noted that the two nations are expanding the strategic technology partnership.
The initiative includes governments, businesses and academic institutions in the two partner nations. The two nations believe that democratic values and respect for human rights must be the factor to govern how they design and use technology. Further, the US shared their respect for India’s democratic credentials and responsible approach towards use of emerging technologies. The US also announced that they are willing to cooperate with India in future technological innovations and their governance.
The relationship between the two nations expands to multiple sectors. The relationship will benefit both the countries equally. The USA is India’s largest trading partner. In 2021-22, bilateral trade between India and the US stood at USD 120 billion
